SEJONG, Jan. 31 (Korea Bizwire) – South Korea’s finance ministry said Wednesday it will push for a two-track real estate policy to deal with the spike in housing prices in the affluent areas of Seoul and withering markets in other parts of the nation. The Ministry of Strategy and Finance said it will keep a close watch on the real estate market, as apartment prices in [...]
SEOUL, Jul. 25 (Korea Bizwire) — LPG-powered recreational vehicles with a seating capacity of five or below might be released for general sale in South Korea after years of being banned in the retail market, with the government looking for ways to tackle the issue of fine dust emissions. According to the Ministry of Trade, Industry [...]
SEJONG, May 18 (Korea Bizwire) – South Korea’s overseas direct investment hit a record high in the first quarter of this year on increased demand for mergers and acquisitions in the retail and information service sectors, government data showed Thursday. The overall overseas direct investment totaled US$10.71 billion in the January-March period, up 30.2 percent from $8.23 billion tallied a year ago, according to the data compiled by [...]
SEJONG, Aug. 16 (Korea Bizwire) – South Korea is considering selling state bonds that mature in 50 years as part of efforts to manage fiscal policy in a more stable manner, the finance ministry here said Tuesday. It will decide the exact timing of the issuance and detailed terms and conditions, as well as the [...]
SEJONG, Jan. 12 (Korea Bizwire) – South Korea’s tax revenue rose sharply on-year in the first 11 months of 2015 thanks to higher cigarette prices and increased real estate transactions, the finance ministry said Tuesday. In the January-November period, the government collected some 206.2 trillion won (US$171 billion) in taxes, up 16.8 trillion won from [...]
SEOUL, Sept. 2 (Korea Bizwire) – The South Korean government will deploy drones to investigate national properties scattered at 5.4 million locations nationwide. The Ministry of Strategy and Finance announced plans on September 1 to properly manage the country’s national properties. By deploying drones and leveraging spatial geographic information, which is more accurate and advanced than aerial [...]
SEOUL, Aug. 17 (Korea Bizwire) – The South Korean government is planning to examine the possibilities of the internationalization of the Korean won, through the formation of a task force that is expected to begin deliberations as early as next month. According to the Ministry of Strategy and Finance on August 16, the task force [...]
SEOUL, July 24 (Korea Bizwire) — South Korea’s trade volume is forecast to hit a five-year low this year as a stronger local currency and low oil prices weigh heavily on Asia’s fourth-largest economy, data showed Friday. The country’s exports reached US$268.7 billion in the first six months of the year, down 5.1 percent from [...]
SEOUL, July 12 (Korea Bizwire) — South Korea’s cigarette tax revenue jumped in the first six months of 2015 from a year earlier on the back of the country’s new tax policy that began as of January, data showed Sunday. The Ministry of Strategy and Finance said it has raked in 4.3 trillion won (US$3.8 billion) [...]
SEOUL, May 6 (Korea Bizwire) – The official English title of Korea’s finance ministry is theMinistry of Strategy and Finance. It used the term “strategy” to stress its role in planning future strategy for Korea’s economy. However, it is not easy for non-Koreans to fully grasp its role based solely on the title. During the [...]